Profit & Loss

Profit and Loss : Part 3

Share this…FacebookGoogle+TwitterLinkedin 6. The percentage profit earned by selling an article for Rs. 1920 is equal to the percentage loss incurred by selling the same article for Rs. 1280. At what price should the article be sold to make 25% profit? A. Rs. 2000 B. Rs. 2200 C. Rs. 2400 D. Data inadequate Answer & Explanation Answer: Option A Explanation: Let C.P. be Rs. x. Then,    1920 – x

Profit and Loss : Part 2

Share this…FacebookGoogle+TwitterLinkedin 1. Alfred buys an old scooter for Rs. 4700 and spends Rs. 800 on its repairs. If he sells the scooter for Rs. 5800, his gain percent is: A. 4 4 % 7 B. 5 5 % 11 C. 10% D. 12% Answer & Explanation Answer: Option B Explanation: Cost Price (C.P.) = Rs. (4700 + 800) = Rs. 5500. Selling Price (S.P.) = Rs. 5800. Gain =

Profit and Loss : Part 1

Share this…FacebookGoogle+TwitterLinkedinIMPORTANT FACTS Cost Price: The price, at which an article is purchased, is called its cost price, abbreviated as C.P.   Selling Price: The price, at which an article is sold, is called its selling prices, abbreviated as S.P.   Profit or Gain: If S.P. is greater than C.P., the seller is said to have a profit or gain.   Loss: If S.P. is less than C.P., the seller